Proactive weekly mining highlights – Glencore, Fresnillo, Jangada Mines….


Glencore PLC (LSE:GLEN) (LSE:GLEN) (LSE:GLEN) reported a 79% jump in interim profits on higher commodity prices and announced a special dividend and a US$650mln share buyback alongside a positive outlook. Adjusted underlying earnings (EBITDA) rose to a record US$8.7bn in the first half for the commodity trading and mining company from US$4.8bn in the year-earlier period.

Fresnillo PLC (LSE:FRES) (LSE:FRES) reported a 59% jump in interim profits on higher gold and silver production and metal prices. Underlying earnings (EBITDA) rose to US$747.0mln from US$469.9mln in the first half of 2020 for the FTSE-100 miner.

Jangada Mines PLC (AIM:JAN, FRA:JMU) (AIM:JAN, FRA:JMU) has received positive bench and pilot scale metallurgical test results on ferrovanadium-bearing titanomagnetite samples taken from the Pitombeiras ferrovanadium project. Pilot scale metallurgical tests were conducted at the Fundaco Gorceix mineral and metallurgy institute in Brazil and the company described the results as excellent.

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) (LSE:EDV) boosted production from its gold mines in West Africa in the second quarter of by 18% to 409,000 ounces of gold, while all-in sustaining costs decreased by US$15 per ounce to US$853 per ounce.

Alien Metals Ltd (LSE:UFO) (LSE:UFO) said its inaugural drilling programme on the Elizabeth Hill silver project, situated in the resource-rich Pilbara region of Australia, is due to start in coming days.

Kodal Minerals PLC (LSE:KOD) (LSE:KOD) said the mining licence application for its flagship Bougouni lithium project in southern Mali is in the final stages of approval and that everything is progressing as expected.

Jubilee Metals Group PLC (AIM:JLP, FRA:JI5, JSE:JBL, OTC:JUBPF) (AIM:JLP, FRA:JI5, JSE:JBL, OTC:JUBPF) chief executive Leon Coetzer described an exceptional performance in the six months ending June 30 2021. Coetzer highlighted that the company saw growth in each of its core business units – platinum group metal, chrome and its copper operation in Zambia – with the latter seeing its first earnings during the period.

Pure Gold Mining Inc. has announced that commercial production has been achieved at the PureGold Mine, effective August 1, 2021.

Trident Royalties PLC (AIM:TRR, FRA:5KV) (AIM:TRR, FRA:5KV) has released second-quarter operating results in which it noted significant asset level progress at a number of projects over which it holds royalties.

Bradda Head Holdings Ltd (AIM:BHL) (AIM:BHL), a North America-focused lithium development group, said it received permission to drill on part of its Wikieup project in Arizona.

Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, FRA:ZMK, OTC:MKNGF) (AIM:MKA, TSX-V:MKA, FRA:ZMK, OTC:MKNGF) is raising GBP5.2mln and will acquire the remainder of the Songwe Hill rare earths project that it doesn’t already own. The company is also acquiring all of the Maginito business, which is a rare earth recycling business already part-owned by Mkango, as it seeks to take control of and accelerate an integrated mine, refine, recycle strategy.

Power Metal Resources PLC (AIM:POW, FRA:2M5) (AIM:POW, FRA:2M5) gave a positive update on the ongoing exploration drilling programme on the Silver Peak project in British Columbia, Canada. Twelve holes, out of a planned 25 diamond drill holes, have been completed and all have intercepted the high-grade Victoria Vein.

Galileo Resources PLC (AIM:GLR, FRA:2GA) (AIM:GLR, FRA:2GA) (AIM: GLR) said an agreement to sell a package of nine licences in the Kalahari copper belt to Sandfire Resources Ltd for US$3mln has been amended.

Bezant Resources PLC (AIM:BZT, FRA:BN5) (AIM:BZT, FRA:BN5) (AIM: BZT) signed an exclusive option agreement with Caerus Mineral Resources Plc (LSE:CMRS) (LSE:CMRS) (LSE: CMRS) to review the portfolio of copper/gold projects held by Caerus in Cyprus.

Oriole Resources PLC (LSE:ORR, FRA:S1Y) (LSE:ORR, FRA:S1Y) said it completed a mapping and stream sediment sampling programme over the five easternmost licences of the Central Cameroon package and that the results are anticipated in the third quarter.

Strategic Minerals PLC (AIM:SML, FRA:24S) (AIM:SML, FRA:24S) announced the potential for a partial recovery by its wholly owned subsidiary, Southern Minerals Group (SMG), of an arbitrated claim for US$21.9mln from CV Investments.

Scotgold Resources Limited (AIM:SGZ) (AIM:SGZ) continued to mine as planned at its Cononish mine in the Grampians during the month of July.

ECR Minerals PLC (AIM:ECR, FRA:IZGH) (AIM:ECR, FRA:IZGH) has revealed that Cordillera Tiger Gold Resources Inc., in which ECR is entitled to a 25% interest, has successfully renewed Exploration License EP-006 at the Danglay gold project, which is located in a prolific gold and copper mining district in the north of the Philippines.


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